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What's your share of the deficit?

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June 07, 2009 – Comments (4)

I got this idea from reading Astry and Donnerv, Astry looking at the debt/deficit by the top 50% and Donnerv showing the taxes paid by the top 50%.  I previously did something similar as an overall average.

So, assuming the 69.7% of taxes are paid by the top 50%, as per Donnerv's post, there are currently about 141 million workers and the average number of hours worked is 33.  That is data I remember reading this week, and I will use.

So, 69.7% of $2 trillion is  1.39 trillion, or about $19,800 per higher wage earner, or $380 per week.  If I use the average hours worked at 33 it is $11.50/hour.  I suspect the average is pulled down by the lower half working less hours.

4 Comments – Post Your Own

#1) On June 07, 2009 at 9:19 PM, alstry (35.42) wrote:

You may want to change your assumptions;)

http://www.taxfoundation.org/blog/show/341.html

http://www.allegromedia.com/sugi/taxes/#Head-1.htm

I truly look forward to any revisions.....

Thanx,

Alstry

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#2) On June 07, 2009 at 9:25 PM, alstry (35.42) wrote:

Just for clarification....you are dealing with the federal deficit....much of the taxes Donner contemplates is state and local and adds in corporate taxes.

The Federal deficit is simply revenues in.....primarily corporate income tax(you did a great blog on that issue) and individual income tax.

We know corps aren't paying much....especially factoring NOL carrybacks.....and the individual ratios are identified in the links above.

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#3) On June 07, 2009 at 9:25 PM, abitare (34.29) wrote:

dwot,

When will you be back in the market?

FYI - I am 95% cash, at the moment. I closed my long SWHC afther the insiders sold and then the company had a secondary offering. 

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#4) On June 08, 2009 at 11:01 PM, dwot (49.06) wrote:

abitare,

I am not sure.  It looks like it is going to be another year or two before the masses of defaulting debt works its way through the system.  Amazing, it has already been more then a year and a half since I got out.

But, I may look for other investments besides the market.  I just bought a house...

I am not really sure where to invest right now and until I have a clear idea there I will watch.

Alstry, so I need to change it and it works out to what? $16-18/hour?  Does this reach the total income for those at the bottom of the top 50%.

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